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Envictus group CEO Khor Sin Kok resigns

ENVICTUS International Holdings on Tuesday said its group chief executive officer (CEO) Khor Sin Kok will resign on Oct 1 following the expiry of his leave of absence on Sept 30.

Acting group CEO Kamal YP Tan will be redesignated to group CEO from Oct 1, said the group in a regulatory filing.

Mah Weng Choong will separately be redesignated from independent non-executive director to non-independent non-executive director from Oct 1.

The group said the reason for the redesignation is due to the total consultancy fee of RM211,000 (S$70,000) received by Mr Mah for the financial year ending Sept 30, 2020 from Motivage Sdn Bhd, a wholly-owned subsidiary of Envictus.

The amount, which is in excess of S$50,000, is deemed significant for purpose of determining the director's independence in accordance with the Code of Corporate Governance 2018, said the group.

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Envictus shares tumbled 2.4 Singapore cents or 19.7 per cent to close at 9.8 Singapore cents on Tuesday.

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